Art Cashin 10/24/08 - Sign of a Bottom Capitulation

Art Cashin is a floor trader in the NYSE and is one of the best market direction predictors we have. His predictions are incredible.

So with the markets crashing this morning Art Cashin calmly came on CNBC and gave his predictions:

Art Cashin has been calling for this ugly capitulation move all week when the market failed to move higher when the Dow was trading above 9000 this week. Art says if this downturn happens his way, we will see a huge move down today followed by a jaw dropping rally that could last many months. He says it could all be taken care of today but the selling could last into Monday, 10/27/08. Art Cashin says this will be a move in the stock market we will be talking about for a long time.

What do to? Put in " silly bids"

Art says if you like a stock at $20.....put in limit orders for $11 and $13...and maybe even $8....sell puts, atleast you will get paid to lose money.